State Farm’s new cat bonds have Florida and Texas wind focus

State Farm’s new cat bonds have Florida and Texas wind focus

The two recently issued Merna Re catastrophe bonds sponsored by US primary insurance giant State Farm both covered peak peril US hurricane risks, we understand, with one bond having a Florida focus and the other Texas.As we were first to report last week, State Farm returned to the catastrophe bond market and secured $500 million … Read more

Allstate adds ~$600m to top of Florida tower with help of cat bonds

Allstate adds ~0m to top of Florida tower with help of cat bonds

In its June 1st reinsurance renewal for 2022, US primary insurance giant Allstate has extended the top of its Florida excess-of-loss catastrophe reinsurance tower by almost $600 million.Allstate’s Florida Excess Catastrophe Reinsurance Program covers its subsidiaries that underwrite in the state, including Castle Key Insurance Company, Castle Key Indemnity Company and other affiliated entities. The … Read more